Want to be a millionaire? Then you'll want to be highly educated and count on earning your wealth rather than inheriting it.

Those revelations come courtesy of a new study from BMO, a private wealth bank. BMO wants to know their customers so they surveyed people with investable wealth of several million dollars in Florida. (The Sunshine State typically has the most wealthy individuals per state because there is no personal income tax in Florida.)

So what percent of millionaires with investable wealth inherited their wealth? One percent.

What percent didn't go to college or dropped out, like the stereotype of the techno-geek who can't cope with school and strikes out on his own to make millions? Just 2 percent. In fact, people with advanced degrees make up two-thirds of those who became independently wealthy.

There are always exceptions, the people who follow their own drummer. But for most, education is the starting point and then having the vision to fulfill your own destiny as an entrepreneur is the logical path to millionaire status.

Image of Clark Howard About the author: Clark Howard

Clark Howard is a consumer expert whose goal is to help you keep more of the money you make. His national radio show and website show you ways to save more, spend less and avoid getting ripped off. View More Articles

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